EU foreign ministers renew calls for oil embargo

COUNCIL — EU foreign affairs ministers meet today in Luxembourg with several again calling for a Russian oil embargo. “The sooner the better,” Ireland’s Simon Coveney told reporters on the doorstep:

EURACTIV @EURACTIV

The EU’s executive is drafting proposals for an EU oil embargo on #Russia 🇷🇺, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday (11 April), although there is still no agreement to ban Russian crude.⤵️ euractiv.com/section/energy…

euractiv.comRussian oil embargo could be part of next EU sanctions package, say ministersThe European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday (11 April), although there is still no agreement to ban Russian crude.

At the same meeting Germany’s Annalena Baerbock called for a "coordinated plan to completely phase out fossil fuels" from Russia:

Mark Johnston @mark_johnston

Germany's foreign minister @ABaerbock called for a "coordinated plan to completely phase-out fossil fuels" from Russia. #fac #euco

reuters.comRussian oil embargo could be part of next EU sanctions package, ministers sayThe European Union’s executive is drafting proposals for an EU oil embargo on Russia, the foreign ministers of Ireland, Lithuania and the Netherlands said on Monday, although there is still no agreement to ban Russian crude.

OIL PRICES — Both Brent and WTI indices fall below $100 per barrel:

Reuters Commodities @ReutersCommods

Oil drops on worries about lockdowns in China, release of reserves

reuters.comOil drops below $100 on reserves release and China lockdownsOil prices dropped by $4 a barrel on Monday, with Brent crude tumbling below $100 on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China.

TARGETS — “We want to accelerate the energy transition”, Timmermans said yesterday. The Commission is due to issue a policy paper on the topic next month:

Reuters @Reuters

EU could revisit renewable targets in push to quit Russian energy, climate policy chief says reut.rs/3LQCRLK

EUCO — An extra EU summit but only in seven weeks. The meeting will consider the Commission’s ‘RePowerEU’ plan:

Charles Michel @eucopresident

As discussed in Versailles and during the last European Council, a special European Council will take place on 30 and 31 May. On the agenda notably defence, energy and Ukraine. #EUCO

SANCTIONS — Too little , too late?

Tjeerd Royaards @Royaards

Hear ye, hear ye! Announcing more sanctions! Cartoon for Dutch newspaper Trouw. #Russia #Europe #sanctions #Ukraine #warcrimes